Market Research Future

Worldwide Micro-Pump Market to Witness a Pronounce Growth by 2027

The report titled “Micro-Pump Market -Forecast to 2027? is a direct appreciation by Market Research Future of the market potential of the Micro-Pump Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market! the micro-pump market. Globally the market for micro-pump is expected to grow at the rate of about 17.2% from 2016 to 2027.

Market Scenario of Global Micro-Pump Market:
A micro pump is a device designed to provide a precise, repeatable and discrete volume of fluid, under controlled conditions so as to manipulate small fluid volumes. High accuracy is the most desired characteristic of micro pumps which has made them crucial to diagnostic and drug delivery applications. Coupled with micro-filters, micro-mixers, micro-dispensers, micro-needles etc. has increased their utility and versatility in different applications. Globally the market for micro-pump is expected to grow at a CAGR rate of about 17.2% from 2016 to 2027.

Market Dynamics of Micro-Pump Market:
The Global Micro Pump Market is witnessing a rising phase due to increase in demand by biomedical and pharmaceutical industries.

Micro pumps play a crucial role in DNA chips, lab-on-a-chip and drug delivery. They are also finding applications in other industries such as flow chemistry, inkjet printing etc. Thus research and development is a core domain of these devices which obviously does not restrict to pharmaceutical and biotechnological industries. The development of biotechnology and micro-electronics industry has benefitted the micro pump market, a trend that is only going to strengthen.

The market constraints include the nascent stage of technology, high cost of micro pumps, high failure rate of micro pumps, low robustness of most micro pump devices and others.

The development of advanced technology has strengthened the position of non-mechanical pumps which are witnessing a strong growth in the market. However for the present mechanical pumps dominate the market.

Strategies of players in the Micro-Pump Market:
Collaboration makes economic as well as technological sense. Collaboration reduces the development time and cost. It also allows all partners to benefit from the technological and technical skills of all players. Merger and acquisition is another strategy successfully adopted by many players. For example, in 2016, IDEX Corporation acquired SFC KOENIG AG, and CIDRA Precision Services. Thus combining world class complimentary technologies of SFC KOENIG with CIDRA Precision Services is expected to benefit IDEX Corporation to take a strong global position in the market.

Key developments of Global Micro Pump Market:
Product development trumps all strategies to capture the market globally. Thus, research and development investment is a better indicator of major players than the current revenue or even operating costs. Investment in research and development, is expected to result in leading position due to higher market equity propensity.

Product differentiation is another development in the market. Thus brand development is a must to separate and distinguish the company from other players. The micro pumps is a high tech market and performance and brand triumphs all other factors. Thus positioning a firm as the most advanced is a must as it allows to gain a price premium over other players.

For example, in 2015, Bio-Chem Fluidics introduced new product with unique and leading feature such as Maestro Piston Pump. The Maestro Piston Pump is the world's first 10,000,000 cycle piston pump and is claimed to be more reliable, longer lasting. The company underscored its own previous pump by developing a new Maestro piston pump which delivers the longest life and best accuracy of any other pump in its category. The new pump is capable of 10 million and 5 million cycles with clean fluids and precipitating fluids respectively. Thus company are developing new product line with unique technology, so as to differentiate themselves and capture maximum market shares globally.

Regional Analysis of Global Micro Pump Market:
The market of micro pump is dominated by North America and followed by Europe. Factors such as wider and faster acceptance of technology, presence of major players in this region, early adoption and strong research ecology are estimated to result in continuous lead of these regions in the near future. High research and development expenditure is another factor driving the dominance of these regions. According to the European Federation of Pharmaceutical Industries and Associations, in 2016, Pharmaceutical and Biotechnology industry made the highest spending on research and development amongst all the industries which accounted to 14.4% from the total research and development investment.

Asia Pacific region is expected to be the future market opportunity for the market players owing to the fast economic and industrial development. Nations like India and China of Asia Pacific region are expected to be the fastest growing market for micro pump market. However Japan is expected to be the largest micro pump market in Asia Pacific region. The Middle East and Africa region is expected to result in poor growth due to factors such as poor social and economic conditions. The poor industrial base of these regions makes them dependent on imports which can be tapped by the other players.

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